Emefiele, Wigwe Bag Law Awards

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James Emejo in Abuja

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has been decorated with the ‘Juris Law’ award for his support towards the development of law for economic growth in Nigeria.

Also honoured alongside the Emefiele, was the Chairman, Body of Bank Chief Executives and CEO of Access Bank, Mr. Herbert Wigwe, for his contributions to corporate governance and rule of law in Nigeria’s banking industry.

The awards were presented by the Juris Law Office in collaboration with the National Judicial Institute.

The prestigious award was presented to Wigwe at a workshop for judicial officers on recent reforms of the banking financial services sectors in Nigeria: Bank and Other Financial Institutions Act (2020) in Focus.

The workshop was titled: ‘The Role of the Judiciary in Financial System Stability in Nigeria’.

Earlier, Wigwe said the Bank and Other Financial Institutions Act (BOFIA) 2020 would promote a stronger, more transparent, and efficient financial system in Nigeria.

He said the expansion of the CBN’s powers and the other salient provisions introduced by the Act would help to improve the system, prevent bank failures and other systemic issues.

He urged the lawyers to look into the contemporary issues in the nation’s banking sector and come up with workable ways of resolving financial disputes.

The Access Bank CEO said: “It is my hope that my Lords will be emboldened in the future to implement the provisions of this Act, admit their errors where necessary and do inestimable good to the banking and financial sector in the country.

“I am, without doubt, that your lordships’ decisions are a vital part in determining how fast and high the economy of this country can grow.

“It is my hope that the future cases will be decided in tandem with the spirit of this Act and the rule of law. No nation’s economy can develop faster than its rule of law.”

He also urged the judiciary to use the opportunity of the workshop to gain the right knowledge and attitude into the contemporary issues in the financial and banking sector in the country.